WAT · 8-K · 20260804PR331413

Capital Expenditures and Free Cash Flow

WATERS CORP /DE/ · 2026-08-04 · Importance 57 · Surprise 64 · No source text

Second-quarter additions to property, plant, equipment, and software capitalization were $49 million, up from $23 million in the prior-year quarter. Six-month capital expenditures and software capitalization totaled $87 million, compared with $48 million in the prior-year period. Adjusted free cash flow was $202 million in the second quarter, compared with $159 million, while six-month adjusted free cash flow was $161 million, down from $392 million. Six-month operating cash flow was $198 million, compared with $301 million, partly reflecting a $401 million change in operating assets and liabilities.

Key facts

• Property, plant and equipment, net at July 4, 2026: $1,489 million; at December 31, 2025: $642 million. source
• Net cash provided by operating activities for three months ended July 4, 2026: $200 million; for three months ended June 28, 2025: $41 million. source
• Net cash provided by (used in) investing activities for three months ended July 4, 2026: $2 million; for three months ended June 28, 2025: ($58) million. source
• Change in deposit asset related to BDS acquisition: $51 million change recorded in investing activities and included in adjusted free cash flow. source
• Additions to property, plant, equipment, and software capitalization for three months ended July 4, 2026: $(49) million; for six months ended July 4, 2026: $(87) million. source
• Free Cash Flow - Adjusted Non-GAAP for three months ended July 4, 2026: $202 million; for three months ended June 28, 2025: $159 million; for six months ended July 4, 2026: $161 million; for six months ended June 28, 2025: $392 million. source

Impact estimates